Key points:
Bitcoin’s recovery is expected to face selling near $69,000, but if the bulls prevail, a rally to $74,508 is possible.
Most major altcoins remain below their resistance levels, indicating that the bears continue to exert pressure.
Bitcoin (BTC) rose above $68,000, but the bulls are struggling to sustain the higher levels. Sellers are expected to exert pressure to achieve a negative monthly close in March. That will result in six consecutive months of losses for the first time since the 2018 bear market.
Analysts remain increasingly bearish on BTC’s prospects in the short term. Analyst Willy Woo said in a post on X that BTC may bottom between $46,000 and $54,000 according to various on-chain models.
Crypto market data daily view. Source: TradingView
The deeper the fall from the all-time high, the longer it is likely for BTC to take to record a new all-time high. According to an Ecoinometrics’ model, if BTC holds the $60,000 low, a full recovery is expected to happen in roughly 300 days from the October 2025 peak of $126,000. About 175 days have passed since BTC’s all-time high, leaving around 125 days for the full recovery to happen. If BTC falls to the $40,000 to $45,000 range, the recovery may stretch further into Q2 2027, as every 10% drawdown adds 80 days to the recovery duration.
Will buyers be able overcome the resistance levels in BTC and the major altcoins? Let’s analyze the charts of the top 10 cryptocurrencies to find out.
S&P 500 Index price prediction
The S&P 500 Index (SPX) turned down from the 20-day exponential moving average (6,620) on Wednesday, indicating that bears remain in command.
SPX daily chart. Source: Cointelegraph/TradingView
Sellers will attempt to sink the price to the 6,147 level, which is likely to attract solid buying by the bulls. A bounce off the 6,147 level may face selling at the 20-day EMA. If the price turns down sharply from the 20-day EMA, the bears will again attempt to sink the index below the 6,147 level. If they succeed, the next stop may be the 5,943 level.
On the other hand, a break and close above the 20-day EMA suggests that the bears are losing…
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